The company proposes to utilise the net proceeds of the issue for repayment of debt availed by the company, funding capital expenditure requirements and fresh acquisitions.
Bangalore-based HR firm Quess Corp erstwhile IKYA Human Capital Solutions is all set to lunch its IPO (initial public offering). The IPO for the company, promoted by Ajit Isaac and Thomas Cook, will open on June 29, 2016 and close on July1, 2016, with a price band of Rs 310 – Rs 317 per Equity Share of face value of Rs. 10 each.
The IPO consists of a fresh issue of equity shares aggregating to Rs 400 crore.
The company proposes to utilise the net proceeds of the issue for repayment of debt availed by the company, funding capital expenditure requirements and its subsidiary – MFXchange US, Inc. The fund will also provide incremental working capital requirement of the Company, and help in acquisitions and other strategic initiatives.
Quess Corp has over 120,000 employees with a pan-India presence of 47 offices across 26 cities as well as operations in North America, the Middle East and South East Asia. It serves over 1300 customers.
It deals in global technology solutions, people & services, integrated facility management and industrial asset management.